Appraisal/ Refinance first or Get Renter First?

[Tyshawn Best]

Hey so my first property is completed!!! I’m in the process right now of finding a renter. My loan is through a hard money lender that I’m planning to refinance. I was wondering though, should I get a renter in first or should i get the refinance done now so the appraisal can be done in a nice empty clean house without a tenant living there? Thanks in advance!

[Michael Craig]

@Metodi Haralambiev

Having a current renter is factored in but it does not get weighed heavily in under writing. What gets weighed heavily is claimed rental income on the last few years of tax returns. 

When I wrote my post, I was assuming @Tyshawn Best will be approved to refinance without including any new rental income. If I was in his situation, I would list the rental units and try to get them rented while simultaneously refinancing.